Taiwanese Exchange BitoPro Was Hacked for $11.5M: ZachXBT’s Report
Blockchain analyst ZachXBT has flagged $11.5M in suspicious outflows from BitoPro’s hot wallets on May 8. The Taiwan-based exchange later confirmed the incident.
On-chain analyst ZachXBT has flagged $11.5M in suspicious withdrawals from the hot wallets of Taiwan-based crypto exchange BitoPro. The outflows occurred on May 8 and spanned multiple networks, including Ethereum, Tron, Solana, and Polygon.
More than three weeks later, BitoPro confirmed the incident via an announcement on Telegram, claiming that no user funds were affected.
According to the exchange, the hack occurred during a wallet system upgrade and asset migration. BitoPro claims it swiftly moved platform assets to new wallets, blocked the attacker’s actions, and brought in a third-party cybersecurity firm to assist with the investigation.
Hackers Launder Stolen Funds Through Tornado, Thorchain, and Wasabi
According to ZachXBT, the attackers laundered the stolen funds using a familiar combination of privacy tools. After selling the assets on decentralized exchanges, they funneled them through Tornado Cash and Thorchain, then deposited the proceeds into Wasabi Wallet, a Bitcoin mixing service.
The method mirrors tactics used in other major exploits, including the $1.4 billion Bybit hack earlier this year. In that case, the attackers also relied on Tornado, Thorchain, and Wasabi to conceal the origin of the stolen crypto.
Related: ZachXBT Just Tracked the Bybit Hack Funds—Who’s Really Behind It?
The repeated use of these tools highlights the difficulty regulators and investigators face in tracing cross-chain thefts. It also points to ongoing vulnerabilities in hot wallet infrastructure and the speed at which attackers can move funds across networks.
BitoPro Faces Pressure to Rebuild Trust as Focus Turns to User Compensation
With the incident now public, flagged by one of the crypto industry's most respected analysts, pressure is mounting on BitoPro to act. Users are demanding transparency, a detailed timeline of events, and most importantly, clear answers on whether they will be reimbursed. As Taiwan’s leading local exchange, BitoPro’s handling of the situation could set a standard for how regional platforms address security failures.
Processing over $20 million in daily volume, BitoPro cannot afford to lose user confidence. A formal compensation plan, third-party audit, and improved wallet security may be essential to restore trust and maintain its position in the market.
Related: Taiwan Considers New Crypto Act That Could Impact Smaller Players
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
